Member Info for tiff723

When did this BOD ever suspend a share before a vote? Never until the Dec14 GM as far as I can ascertain. Why did they suspend it? They knew they were going to lose the vote (we gave them the heads up! lesson learnt?). But if they knew they were going to lose, why the hairdresser stunt at a cost of £56k? Smoke and mirrors? Why, in the days leading up to the GM was everything done to suppress the price...surely if you a seeking refinance through a placing you want the SP as high as possible. Still smells like Billingsgate.

WRN trading has been suspended for 2 months... Why? They reach this 'peak' before they were suspended. Now they are suspended you cannot trade them. Looks great on paper... When can you cash in? I am obviously missing something but I know nothing about this share. So why have you mentioned it on this BB? Totally irrelevant isn't ?

If one looks at the RNS 19 Mar 12, that announces the Vitol loan facility I guess the key word is 'secured' loan. Secured against what? It also states that if there is any change in control of BHR then the loan becomes repayable. No mention of the $1 buy out from the administrator, but you would have thought that once in the hand of the administrator it is up to them to extract best value for the assets and pay the debtors from the proceeds. Can a prenuptial agreement have any standing once in admin??

that had the vote been carried, there was no guarantee of DFI finance, no guarantee on renegotiation of other loans and the operating funding from the raised Darwin placing would have run out in April. There was no way back, following consolidation and dilution there was only one direction for the SP. Last one out, switch off the lights.

If it is true you'd have thought the BOD would have made it known to shareholders before the vote.

Sorry Mike....posted before I saw yours

But what about this from the article.....'In terms of its finance agreement with Vitol, the trader has the right to buy the company's mine out of administration for $1.' Was this known to anyone here? Surely that leaves shareholders with nothing if this does go to administration and that would suit Vitol.

That is the post consolidation (1:1000) pea brain. Google are behind the curve, like you. Irrelevant anyway as shares are not trading.

Were you reading this board before you invested? Expecting some king of upward rerating after the meeting? There are lots of fools here (I count myself amongst them) invested in BHR but you are the tops. On what basis do you think an offer of 6p per share may be forthcoming. You are not Mr Bean are you?

So if it is worthless and the mining of the coal is not economic then: 1. Why the effort taken by the BOD to attempt to secure the Yes vote last week. 2. Why would Vitol agree to a loan to equity swap in the current environment? and 3 why would our mystery buyer pay a premium for a 12% stake last week?

Please calm down. We do not know how this is going to land. But please tell me what you think might have happened next had the YES vote won, and then what would have happened in April 2015 when the cash from the proposed placing ran out? another GM? another placing? This was the last chance for PI's to exercise any 'power' ...for better or worse. Merry Xmas all readers.

Yes gonch, you have answered your own question; there is a risk of being infiltrated which is why the ' circle of confidence' will not be publishing anything here. Be happy that Tom W now has action things moving with the FCA and trust that MK, Red and friends are acting in PIs best interests and will tell us when there is something to tell. This is going to be a slow burner and I wold not expect to hear anything of worth until 2015. Merry Xmas to all BHR PIs.

Providence wrong word. Meant provenance or something like it

MK, Red, Kate You are doing a great job and very much appreciated. Doesn't need me to tell you to continue to keep your confidences to a limited circle. Trust no-one until you can verify their providence. There are lots of clever snakes in the grass, don't let down your guard; they will catch you out otherwise. Sorry if granny sucking eggs is appropriate here, I just don't want to see all your good work undone.

Duxi, never too old to be surprised eh?

Sorry sir, I cannot help myself. TV is so boring these days.... And I gave up reading books when I discovered this board.

Alternatively, take a calculator...enter your target price 1.0, press the divide button (sorry don't have that symbol on i phone) followed by your purchase average ...0.02?....press = ....and the answer is .....50 I think.

Is the Development Finance Institution.... a multi state backed agency that lends money to high risk projects in the 3rd world.

Lets face it we don't know because we don't know what BS we've been fed by the BOD over the past 3 years. What we do know is that our main creditor was willing to do a debt to equity swap at the current price and if you believe the BOD some outfit called DFI (i don't think that is our Department for Industry) were willing to loan another large lump of money. That tells us that there is value here but everything was being engineered to see that PIs got nil. This vote forces them back to the drawing board. A yes vote would have wiped PIs out and ultimately a takeover at a much reduced price in 3 months time (consolidation would have ensured that) Somebody wants what we've got but they want it on the cheap and the BOD dance to their tune.

No need to be so abusive (that's my job). So at suspension the price was 0.02p...multiply by 10 ..move the decimal point 1 place to the right ...that's 0.2 p. Now multiply by 5 and you get to a sp of 1.0p. Multiply the 10 by the 5 and you get a 50 bagger....lucky you if you bought at 0.02. More likely you get zero like the rest of us but we knew that when we voted NO, and we would vote NO again whatever Clockwurkorange thinks.